Good Bye 2016. Welcome 2017!!

First of all, Happy New Year 2017!

I hope you had an awesome celebration over the festive seasons! :D

Last year was quite a bumpy ride for the financial markets. Read my Recap on Major Events that Rocked the Global Financial Markets in 2016. As we usher in the New Year, let us be mindful of how these events will spill over to this year and possibly impact our investing strategies. Warren Buffet once said “Be fearful when others are greedy, be greedy when others are fearful.” Hence, I believe opportunities are aplenty in 2017.

In my first blog post in 2017 (huat ah!), I will share some of my achievements to wrap up 2016 and various investment plans for 2017 going forward. 

Achievements in 2016

Looking back, 2016 has been a great year for me.

Investment-wise. I am happy to share that I had achieved a two-fold increase in my returns vis-a-vis 2015 mainly through collection of dividends and trading of a few stocks. As such, I am inching closer to my short-term target of $10,000 passive income! To up the ante, I aim to surpass the figure this year.

Career-wise. I received a promotion in my full-time job which helped me to harvest a bumper crop in terms of income earned. This allows me to allocate more spare cash into my investment portfolio. But this also means I would have to pay more income taxes. As such, I had done a voluntary cash top-up to my CPF SA to receive some tax relief. Doing so allows me to set aside some money for retirement needs and earn the guaranteed 4% interest in SA. It’s a win-win. I’ve projected to receive about 25-30% in tax reduction.

Relationship-wise. I have also achieved several breakthroughs. Despite my busy schedule, my girlfriend and I managed to create a truckload of memories in 2016! As our relationship matures, we delved into deeper issues. While we may not agree on everything, we are open in our communication and respect each other’s viewpoints. Our belief is that it is paramount for every couple to share, discuss and align common goals and priorities. Most notably, we applied for BTO in the Nov HDB launch and we are eagerly awaiting the results in Jan 2017. I will keep you updated if there is any good news! If successful, this will be a significant milestone for us :)

Looking ahead in 2017

As you would have already known, 2017 will not be an easy year.

Singapore’s small, trade-dependent economy is expected to go through a cyclical downturn. The weak economic outlook has resulted in a dip in business sentiment and confidence levels. In the latest annual National Business Survey conducted by the Singapore Business Federation(SBF), the poll showed that almost half of those companies polled expected 2017 to be even worse. 

In PM Lee’s New Year message, he shared that Singapore would grow one plus percent amid the global economic uncertainties. He sought to allay concerns by saying that the Government is watching this closely. He said “Singapore is making good progress, but the world around us is in flux.” Indeed, the global scene continues to be shrouded in uncertainties. It is pertinent for you to review your portfolio and tweak accordingly, where necessary.

Plans for 2017

Nonetheless, I am looking forward to an exciting and busy 2017!

Investment-wise. I am looking to ramp up my portfolio to include REITS/Unit Trusts to increase my yield. Despite the interest rate hikes, I am confident that companies with good fundamentals, healthy financial statements and astute management will continue to perform well as long as you do your own due diligence. Currently, I am waiting for a good entry opportunity for the following counters: Ascendas Reit, First Reit, Parkway Life Reit and Keppel DC Reit. These companies give relatively stable and good dividends with sound financial management and business prospects.

On the other hand, I’ve subscribed to The Edge Markets to deepen and gain more industry knowledge. I like the in-depth news reports, interviews, analysis and investments content. It is important to always keep yourself abreast of new happenings.

Health-wise. I will be starting an exercise routine to get back my fitness which includes weekly swimming and gym workouts. I will also be participating in the Sunrise in the City programme with my girlfriend. It is a studio-gym based morning workout programme initiated by the Health Promotion Board. As the saying goes “health is wealth”, you must be healthy so you can enjoy your wealth. Otherwise, all your futile efforts will go to pay for medical bills. Therefore, please also invest in your health!

Relationship-wise. My girlfriend and I have committed to achieve at least 500 hours of learning together. This learning hour can include any activity that leads to our personal growth objective. We have created a spreadsheet so as to update our learning hours and activity. This will motivate us to grow our knowledge and invest in ourselves. With my influence, my girlfriend has also made a New Year resolution to track her expenses and to pay herself first (hooray!). It is essential to get your partner on board on your journey to financial freedom as having their support would make the journey much more rewarding and successful! 

Lastly, there are a few people I would like to thank for the support given to me in 2016. I would like to express my appreciation to my girlfriend who has been very supportive of me. We continue to live simply by having more home-cooked food (we love it!), occasional restaurant visits to pamper ourselves, watching movies in the comfort of our homes etc. This is so that we will have more funds for our dating activities, investments, and rainy days. 

Next, I would like to thank my fellow co-writers, GoHuat and YoloHuat. They are my source of motivation and inspiration to keep me going. We will continue to contribute meaningfully to the investment community and inspire people like you who read our TripleHuat blog!

If you would like to reach out to us, please don’t hesitate to drop us an email at triplehuat@gmail.com. 

Onward to 2017, may you huat huat huat ah!

New Year greetings, EzHuat

Related posts:

Ciao 2016, Hola 2017!

Recap on Major Events that Rocked the Global Financial Markets in 2016

Looking at REITs/Trusts for a Change

Can You Really Pay Less Tax Legally? Yes You Can!

GoHuat Explains.. How Did I Build Up My Spare Cash?